XRP's price has been unable to hold above the $3.20 mark, entering a downward correction. It dropped below $3.050 and the 100-hourly Simple Moving Average, marking a break in a key bullish trend. This has led to a consolidation phase, reflecting trading at a low of $2.940.
The recovery efforts are encountering initial resistance at $3.050, with significant resistance at $3.150, making these levels crucial for any upward momentum.